ESG highlights

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Check out the US$ 500 million first Sustainability Bond Annual Allocation and Impact Report


Itaú Unibanco's Investor Relations Agenda makes headway and receives awards


Itaú Unibanco is part of the IGPTW!


Itaú Unibanco signs up to the Net-Zero Commitment by 2050


ESG library

Explore our studies, papers and documents related to sustainability management

ESG indices and ratings

Our performance in sustainability indices and ratings

We are part of portfolios of market indices for companies with a recognized ESG practice

Dow Jones (Since 1999)
ISEB3 (Since 2005)
Bloomberg (Since 2017)
MSCI (Since 2013)

ESG ratings

Sustainalytics Updated: 10/05/2021
FTSE4Good Updated: 12/20/2021
MSCI Updated: 11/25/2021
ISS ESG Updated: 01/21/2021

sustainability website

Learn more about how we generate positive business impact through our activities on our website dedicated exclusively to sustainability

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frequently asked questions

Yes, Itaú has Net Zero targets to reduce its total emissions (scopes 1, 2 and 3) by 50% by 2030 and become carbon neutral by 2050.

We are already 100% carbon neutral for our direct emissions (scopes 1 and 2), through compensation and purchase of Renewable Energy Certificates (RECs), yet we have reduction targets for such scopes. For scope 3, the most relevant emissions are those that we finance, which is, our participation in the client's emissions, defined by the representation of our credit in the company's finances. We performed the calculation considering the PCAF methodologies (Partnership for Carbon Accounting in Financials) and our strategy is to support, in an actively and customized manner, our clients in their own transition processes to a low carbon economy, thus reducing our indirect emissions. We developed an action plan with initiatives focused on reducing, removing and offsetting emissions. For more details on our emissions target, access our Itaú Net Zero 2050 paper.

Our benefit and compensation strategy varies for different areas of activity. We highlight that the variable compensation of executives and supervisors is in some cases linked to ESG issues.

ESG compensation metrics associated with client service and quality of sales and connected to the Financial Citizenship Commitment: some indicators related to the quality of sales and the suitability of the governance of products could negatively impact the compensation of certain employees, including those in entry-level positions and in higher-level positions, such as Superintendents and Officers. At the branches, all employees and leaders may have their variable compensation reduced based on certain metrics, including cancellations of products, concentration of sales on the same client, complaints, civil lawsuits and reimbursements. Additionally, the Net Promoter Score (NPS), which measures the quality of products, services and client service, and other indicators related to clients’ financial health and the qualifications of the labor force could impact the variable compensation.

ESG compensation metrics associated with the environmental management of our operations and connected to the Responsible Management Commitment: the compensation of business units’ managers responsible for infrastructure is linked to the achievement of our public energy reduction targets.

ESG compensation metrics associated with ethics and connected to the Ethics in Relationships and Business Commitment: the variable compensation of management members may be reduced when products are not sold in compliance with the governance terms for the evaluation of Itaú Unibanco’s products and processes, which are evaluated at the discretion of the Executive Officer of the department responsible for the product and its application.

For more details on ESG-related compensation, access the ESG Annual Report available on this page.

Sustainability governance permeates different instances with defined periodicity and attributions for the board, executive, directors, and operational levels. The Board of Directors, annually, steers, monitors and approves the sustainability policy and strategy in line with our long-term vision. In 2020, the topics Sustainability, Positive Impact Commitments, and the Integrity and Ethics Program became part of the debate. The Superior Ethics and Sustainability Committee, composed of members Executive Committee, with semiannual periodicity, is responsible for integrating sustainability and ethics practices, and promoting and sharing these topics within the business management, organizational culture, and strategy. The Positive Impact Committee based on a half-annual corporate agenda addresses the sustainability issues that are key to the bank’s governance and respective working groups. This committee is composed of representatives of the Positive Impact Commitments: Human Resources, Operations and Infrastructure, Compliance, Investor Relations, Credit, Collection, Wealth Management and Services, and Investments, among others. In 2020, we monitored our progress towards these Positive Impact Commitments, reviewed the targets for specific cases, and expanded the commitments to our foreign units, and the plan to communicate the agenda to stakeholders. For more details on sustainability governance, access the ESG Report available on this page.

In line with our commitments related to the promotion of positive impacts on society and responsible investment, in 2020 we approved a strategy that will result in the gradual reduction, by 2025, of Itaú’s credit exposure to clients whose activities are related to tobacco, such as agricultural producers that exclusively grow this crop, and cigarette manufacturers.

In additional, in 2020, we faced the global repercussions of growing conflicts related to deforestation in Brazil, mainly related to meat production and livestock in deforested areas. We do not exclude the sector, but in view of the gravity of the problem, we recognized the need to promote actions to discourage these practices in the sector and took action to improve the environmental and social due diligence applied to the cold storage plant industry.

We also have specific criteria that must be met for maintaining relationships with customers and suppliers. Thus, we understand that the use of slave or child labor and the exploitation of prostitution are practices that contradict our values and, therefore, are excluded.